Regeneron Announces Receipt of Hart-Scott-Rodino Notice

Regeneron Announces Receipt of Hart-Scott-Rodino Notice
PR Newswire
TARRYTOWN, N.Y., Feb. 11, 2013
TARRYTOWN, N.Y., Feb. 11, 2013 /PRNewswire/ --Regeneron Pharmaceuticals, Inc.
(NASDAQ: REGN) today announced that it received from Sanofia notification
under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) that
Sanofi intends to acquire Common Stock of Regeneron through open market
purchases and direct purchases from shareholders. As a result, Sanofi intends
that the value of its ownership of voting securities of Regeneron stock will
be in excess of the $500 million HSRAct notification threshhold.
Pursuant to the Investor Agreement between Regeneron and Sanofi dated as of
December 20, 2007, as amended, Sanofi is bound by certain "standstill"
provisions including an agreement not to acquire more than 30% of the
outstanding shares of Regeneron's class A stock and common stock. Unless
otherwise terminated pursuant to the Investor Agreement, these standstill
provisions are in effect until the later of the fifth anniversaries of the
expiration or earlier termination of the License and Collaboration Agreement,
dated as of November 28, 2007, as amended, between Regeneron and Sanofi, and
Regeneron's Collaboration Agreement dated as of September 5, 2003, as amended,
with Aventis Pharmaceuticals Inc. (Sanofi's predecessor) for the development
and commercialization of ZALTRAP® (ziv-aflibercept).
About Regeneron Pharmaceuticals, Inc.
Regeneron is a leading science-based biopharmaceutical company based in
Tarrytown, New York that discovers, invents, develops, manufactures, and
commercializes medicines for the treatment of serious medical conditions.
Regeneron markets medicines for eye diseases, colorectal cancer, and a rare
inflammatory condition and has product candidates in development in other
areas of high unmet medical need, including hypercholesterolemia, rheumatoid
arthritis, asthma, and atopic dermatitis. For additional information about
the company, please visit www.regeneron.com.
Regeneron Forward-Looking Statement
This news release includes forward-looking statements that involve risks and
uncertainties relating to future events and the future financial performance
of Regeneron, and actual events or results may differ materially from these
forward-looking statements. These statements concern, and these risks and
uncertainties include, among others, the nature, timing, and possible success
and therapeutic applications of Regeneron's products, product candidates, and
research and clinical programs now underway or planned, including without
limitation EYLEA^® (aflibercept); unforeseen safety issues resulting from the
administration of products and product candidates in patients; the likelihood
and timing of possible regulatory approval and commercial launch of
Regeneron's late-stage product candidates; determinations by regulatory and
administrative governmental authorities which may delay or restrict
Regeneron's ability to continue to develop or commercialize Regeneron's
products and product candidates; competing drugs and product candidates that
may be superior to Regeneron's products and product candidates; uncertainty of
market acceptance of Regeneron's products and product candidates; the ability
of Regeneron to manufacture and manage supply chains for multiple products and
product candidates; coverage and reimbursement determinations by third-party
payers, including Medicare and Medicaid; unanticipated expenses; the costs of
developing, producing, and selling products; the ability of Regeneron to meet
any of its sales or other financial projections or guidance and changes to the
assumptions underlying those projections or guidance; the potential for any
license or collaboration agreement, including Regeneron's agreements with
Sanofi and Bayer HealthCare, to be canceled or terminated without any further
product success; and risks associated with third party intellectual property
and pending or future litigation relating thereto. A more complete
description of these and other material risks can be found in Regeneron's
filings with the United States Securities and Exchange Commission, including
its Form 10-K for the year ended December 31, 2011 and its Form 10-Q for the
quarter ended September 30, 2011. Regeneron does not undertake any obligation
to update publicly any forward-looking statement, including without limitation
any financial projection or guidance, whether as a result of new information,
future events, or otherwise, unless required by law.
Contact Information:
Michael Aberman, M.D. Peter Dworkin
Investor Relations Corporate Communications
914.847.7799 914.847.7640
michael.aberman@regeneron.com peter.dworkin@regeneron.com
SOURCE Regeneron Pharmaceuticals, Inc.
Website: http://www.regeneron.com